Coal India is planning to signing in agreements with BHEL, Indian Oil Corporation, and GAIL India

Opening Bell:

SGX Nifty is down by 141.5 points in the early morning trade, indicating a gap down opening for Indian stock market.

Asian indices fell sharply as negative sentiment weighs in on markets. The Japanese Nikkei dropped by 2.19 percent, South Korea’s Kospi was lower by 2.3 percent and Hong Kong’s Hang Seng is trading flat with a negative bias of 0.027 percent in early morning deals.

US and European markets tumbled on Friday as dollar scaled 22 year high and bond selling on fears of central banks prescription to raise interest rates to tame inflation which may drag major economies in recession.

Dow Industrials was poised to confirm a bear market on dampening business activity across the Euro zone, and US business activity contracting fir a third straight month in September.

Stocks News:

?Harsha Engineers International is schedules to make Dalal Street debut today as the company raised Rs. 755 crore via its stake sale in the primary market.

?BPCL notified that it has signed a agreement with Brazilian national oil company Petrobas for sourcing crude oil from Latin America as a part of plans to diversify its sourcing needs.

?Coal India is planning to set up four gasification projects by signing in agreements with three public sector enterprises BHEL, Indian Oil Corporation, and GAIL India.

?Promoters of agrochemicals company PI Industries offloaded 10 lakh shares of the firm for Rs 315 crore through open market transactions. The shares were picked up by a clutch of domestic mutual funds (MFs), foreign investors and an insurance company.

?Spandana Sphoorty Financial has raised Rs 40.35 crore through its non-convertible debentures issue. The board members have approved an allotment of 402 non-convertible debentures of face value of Rs 10,03,924 each with a maturity on April 1, 2024, on a private placement basis.

?Foreign institutional investors (FIIs) have net sold shares worth Rs 2,899.68 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 299.10 crore on September 23, as per provisional data available on the NSE.

Domestic and International Events

• Japan’s factory activity growth hit a 20-month low in September, as firms struggled with a global slowdown and pressure from high energy and raw material prices that was exacerbated by a weak yen.
• India’s foreign exchange reserves fell by $5.2 billion to $545.65 billion in the week ended September 16, logging a seventh consecutive weekly decline. The reserves are at their lowest level since October 2, 2020. The more than $5 billion drop in reserves last week was largely due to a $4.7 billion drop in foreign currency assets to $484.90 as on September 16.
• After infusing more than Rs 51,000 crore last month, foreign investors have slowed down the pace of equity buying in India in September so far, as they invested a little over Rs 8,600 crore, on sharp depreciation in rupee.
• Banking system’s credit growth at the end of the June quarter accelerated to 14 percent as compared to the year-ago period, the RBI said on Friday. The numbers based on data reported by 89 scheduled commercial banks excluding the performance of the regional rural banks are much higher than the 10.7 percent growth in the preceding March quarter, and 5.8 percent in the June 2021 quarter.

Key Equity Indices

EMERGING	LATEST	% 1D
Hang Seng	17,933	(1.2) %
Shanghai Composite	3,088	(0.7) %

DEVELOPED	LATEST	% 1D
Dow Jones	29,590	(1.6) %
DAX	12,284	(2.0) %
FTSE 100	7,019	(2.0) %
Nikkei	27,154	(0.6) %
Straits Times	3,227	(1.1) %